“I used to have more but I took some money out and put it in my ‘donate section.’ We used to it to buy food for people who don’t have much money in their ‘spend section,'” the boy told Brandon Stanton, founder of the Humans of New York blog.

People around the world praised the parents for teaching their kids about money — and kindness. The post received over 700,000 “likes” on Facebook and was shared close to 80,000 times.

“This is the perfect way to teach children compassion and understanding that not everyone is as fortunate as they are, while also helping them to grow up financially responsible! You’re doing a great job as a father,” said one commenter on Facebook.

“Talk about parenting 101. I’m taking notes for when I become a daddy,” wrote another Facebook reader.